Sales of watches in September jumped 30.4% in the UK compared to the previous year, according to analysis conducted by GfK. However this impressive increase only equated to an uplift of 3.4% in terms of value due to a decrease in pricing over the year.
A major driver of the year-on-year sales growth was the strong performance of ladies’ watches. Ladies’ watches were, on average, responsible for 49% of all watches sold. However, this increased to 51% in September, up from 45% in September 2008.
Pricing played a key factor with the average price for a ladies watch in September being the lowest it has been during the duration of GfK’s audit to date at £41, compared to £59 in September 2008.
The number of watches sold at specialist jewellery stores fell in September by 1.8% but value increased 7.4% with average prices rising from £212 to £232.
Elsewhere, average watch prises tumbled. In department stores the average price of watches decreased from £89 to £73 and at general retailers prices slipped from £25 to £18.
Pictured: diamond watch, £46, Coloured Rocks
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